UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 11, 2024
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Great Elm Capital Corp.
(Exact name of Registrant as Specified in Its Charter)
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| Maryland | 814-01211 | 81-2621577 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
3801 PGA Boulevard, Suite 603, Palm Beach Gardens, FL | 33410 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (617) 375-3006
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common stock, $0.01 par value | GECC | Nasdaq Global Market | ||
| 6.75% Notes due 2025 | GECCM | Nasdaq Global Market | ||
| 5.875% Notes due 2026 | GECCO | Nasdaq Global Market | ||
| 8.75% Notes due 2028 | GECCZ | Nasdaq Global Market | ||
| 8.50% Notes due 2029 | GECCI | Nasdaq Global Market | ||
| 8.125% Notes due 2029 | GECCH | Nasdaq Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
On December 11, 2024, Great Elm Capital Corp. (the “Company”) entered into a Share Purchase Agreement with Summit Grove Partners, LLC (the “Purchaser”), pursuant to which the Purchaser purchased, and the Company issued, 1,094,527 shares of the Company’s common stock, par value $0.01 (the “Shares”), at a current net asset value of $12.06 per share or an aggregate purchase price of $13,199,995.62.
The Purchaser is owned 25% by Great Elm Group, Inc. (“GEG”). Great Elm Capital Management, LLC (“GECM”), the investment manager of the Company, is a wholly-owned subsidiary of GEG.
The Common Stock was issued in a private placement exempt from registration under Section 4(a)(2) of the Securities Act of 1933 (the “Securities Act”).
Item 3.02 Unregistered Sales of Equity Securities.
The information set forth in Item 1.01 above is incorporated by reference into this Item 3.02.
Item 8.01 Other Events.
On December 12, 2024, the Company issued a press release in connection with the issuance of the Shares. A copy of the press release is filed as Exhibit 99.1 to this report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed herewith:
| Exhibit Number | Description | |
| 10.1 | Share Purchase Agreement, dated December 11, 2024, by and between Great Elm Capital Corp. and Summit Grove Partners, LLC. | |
| 99.1 | Press Release, dated December 12, 2024. | |
| 104 | The cover page of this Current Report on Form 8-K, formatted as inline XBRL. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GREAT ELM CAPITAL CORP. | ||
| Date: December 12, 2024 | /s/ Adam M. Kleinman | |
| By: | Adam M. Kleinman | |
| Title: | Chief Compliance Officer and Secretary | |
